1. Technical Field
The embodiments described herein generally relate to automated document processing of document images captured by a mobile device, and more particularly to systems and methods for mobile document image processing of insurance-related documents which extracts and sends information to an insurance provider for generating an offer for an insurance policy.
2. Related Art
One of the most expensive aspects of owning and driving a vehicle is the cost of insurance. In many states, a minimum level of car insurance is required by law, although the types of car insurance policies vary widely and have correspondingly wide variations in cost. Insurance providers regularly advertise their policies in terms of the service and affordability, but many consumers are discouraged from shopping around for car insurance policies due to the complexity of the process.
The process for applying for a car insurance policy requires the consumer to provide a significant amount of personal information, as well as lengthy details about their vehicle, driving history and record and financial information. This includes inputting a large amount of data, from driver's license information to vehicle identification numbers (VIN) to past accidents and driving records. Most consumers find it difficult and time consuming to collect all the needed information when applying for a new car insurance policy, and may fail to complete the application process because one or more pieces of information are missing or difficult to obtain.
Furthermore, even when the consumer has completed an application, the information must be verified by the insurance company which received the application. This involves comparing the inputted information to information about the consumer that the insurance company obtains from third party databases such as state accident and vehicle ownership databases. This requires additional time to process the application, during which the consumer may lose interest in obtaining the policy.
Even when the consumer does receive a valid quote for a car insurance policy, it is difficult to compare the policy with other policies from other insurance companies due to the complexity of completing numerous separate applications.
Therefore, there is a need for streamlining the process of applying for and processing car insurance policy applications.